Chatham Puts Up $71.8M For Seattle-Area Hotel

By Natalie Rodriguez

Law360, New York (November 1, 2013, 2:15 PM ET) -- Hotel investment firm Chatham Lodging Trust has expanded its West Coast presence with the purchase of a Marriott-flagged property near Seattle for about $71.8 million, the company announced Friday.

Real estate investment trust Chatham used a mix of cash and borrowings from a $59 million revolving credit facility to seal the deal for the Residence Inn by Marriott Seattle Bellevue/Downtown, which was purchased from an entity dubbed MG-Bellevue LLC, according to a filing with the U.S. Securities and Exchange Commission. A $1.4 million credit related to...